New Found Gold Corp V.NFG

Alternate Symbol(s): NFGC

Metals & Mining Gold

New Found Gold Corp. is a Canada-based mineral exploration company. The Company is engaged in the acquisition, exploration, and evaluation of resource properties with a focus on gold properties located in Newfoundland and Labrador, Canada. The Company holds a 100% interest in the Queensway Project, which comprises an approximately 1,662 square kilometers area, located about 15 kilometers (km) west of Gander, Newfoundland and Labrador, and just 18 km from Gander International Airport. The Queensway Project is divided by Gander Lake into Queensway North and Queensway South. The Company also owns a 100% interest in the Kingsway property, which consists of 264 claims on three licenses covering approximately 77 square kilometers. The project is located approximately 18km northwest of the town of Gander, Newfoundland. The Company is undertaking a 650,000-meter drill program on Queensway. It has royalty interests underlying Keats South and several additional zones in Queensway.

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New Found Gold Corp

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Post by knoxton Nov 21, 2023 5:40pm

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Post# 35747344

Clarifies Technical

New Found Clarifies Technical Disclosure ^{(TSX-V: NFG | NYSE-A: NFGC)}

Vancouver, BC, November 21, 2023: New Found Gold Corp. (“New Found” or the “Company”) (TSXV: NFG, NYSE-A: NFGC) announces that in connection with a technical disclosure review by the British Columbia Securities Commission (the “BCSC”), the Company is clarifying certain disclosure related to the Company’s Queensway project located in Newfoundland and Labrador (the “Queensway Project”) and certain articles originally published by The Northern Miner and Mining.com on November 7, 2023 (the “Articles”). The Articles have been updated and re-published to correct certain disclosure regarding the Queensway Project at the request of the Company. The Company retracts the disclosure that was included in the original version of the Articles, including all disclosure regarding an internal scoping study. The Company has not completed an internal scoping study or preliminary economic assessment on the Queensway Project and has not done adequate work to develop a resource estimate at the Queensway Project. The Company wishes to clarify that the Queensway Project is in the exploration stage and that the Company’s existing technical report titled “NI 43-101 Technical Report, January 2023 Exploration Update at New Found Gold Corp.’s Queensway Gold Project in Newfoundland and Labrador, Canada”, with an effective date of January 24, 2023 (the “Technical Report”), prepared by D. Roy Eccles, M.Sc., P. Geol. P Geo. of APEX Geoscience Ltd., remains current and compliant with NI 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). The Technical Report reflects that neither a mineral resource or preliminary economic assessment have been developed for the Queensway Project. Further, the Company has amended or removed the following disclosure from its website, corporate presentations, social media and other investor relations materials:

the “Forging the Future – From Exploration to Development” video previously posted on the Company’s website has been removed;
the Company’s September 2023 corporate presentation has been amended by the Company; and
the Company’s Beaver Creek September 13, 2023 presentation has been removed from the website of the event organizers.